The new iPhone is reportedly facing a 15% production cut, and Apple's (AAPL.US) market value once evaporated by 100 billions! JPMorgan reassures the market: this is a seasonal adjustment, not a demand collapse.

```htmlAccording to Golden Ten Data APP, JPMorgan released its Week 5 "Apple Product Supply Tracking" report on October 11: The global delivery period continues to decline but remains "healthy," with iPhone 18 Pro and Pro Max waiting times for delivery dropping from 17 days and 28 days in Week 4 to 14 days and 23 days, respectively. However, the report highlights a contrast—in the US, the largest market for high-end models, the Pro Max delivery period remains at 28 days, exactly the same as last year. JPMorgan concludes that this round of order cuts points to changes in the expected baseline and launch pace, not a collapse in demand. JPMorgan maintains an "Overweight" rating on Apple (AAPL.US) and a target price of $340.```